The Indian government on Friday, June 30, established a steering committee to oversee the country's carbon market, in a move to address climate change. This committee will be responsible for ensuring that carbon credits, which represent the reduction of greenhouse gas emissions, are issued and traded fairly.

The committee's main task is to create guidelines for issuing carbon credit certificates and make sure they are valid. These certificates are equivalent to one metric ton of carbon dioxide and play a vital role in carbon trading schemes. They allow companies to offset their emissions by purchasing credits from projects that reduce or prevent greenhouse gas emissions.

Additionally, the steering committee will determine the minimum and maximum prices for carbon credit certificates.